Business/Economy

Keystone Bank appoints new MD/CEO

The management of Keystone Bank Limited has appointed Hafiz Bakare as the bank’s Acting Managing Director/Chief Executive Officer. The new appointment followed the successful conclusion of the divestment of the…

 
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CBN slashes BDC rate from N390 to N360

The Central Bank of Nigeria (CBN), on Tuesday slashed the rate at which it sells forex to Bureaux De Change (BDCs) in Nigeria to N360 and directed the BDCs to…

 
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CBN crashes dollar to N360

A statement from the Central Bank of Nigeria (CBN) yesterday noted that banks are to sell dollar at N360 for travel allowances, tuition and medical fees. It further said that…

 
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Bureaux de Change at risk as Naira gains more muscle

Business seems bad for Bureaux De Change (BDCs) — no thanks to the naira’s new strength that has hit them with heavy losses. The naira has strengthened below N381 to…

 
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‘Nigeria imports 70m generators’

No fewer than 70 million generators have been imported into the country, the Chief Executive Officer, Consistent Energy Limited, Mr Segun Adaju, has said. Adaju said that shortatge of gas, which…

 
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Insurers’ N300m rebranding project stalled

Indications have emerged that Insurers’ Committee comprising the National Insurance Commission (NAICOM) and Chief Executive Officers (CEOs) of 58 insurance companies cannot raise N300 million for the industry’s rebranding project…

 
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Naira gains 12.36 % in one week

The Naira recorded an appreciation of 12.36 per cent at the parallel market in the last one week, the News Agency of Nigeria (NAN) reports. NAN reports that the Naira…

 
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Rush for dollar drops as CBN records $19m surplus

The demand for dollar by banks is now dropping across the country. For the first time since the dollar scarcity started, the Central Bank of Nigeria (CBN) on Friday recorded…

 
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World Bank approves $200m agric-credit to Nigeria

The World Bank has approved a $200 million credit facility to further support Nigeria, in its efforts to enhance agricultural productivity of small and medium scale farmers. In a statement…

 
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RBI signs MoU with Central Bank of Nigeria

New Delhi [India], Mar 22 (ANI): The Reserve Bank of India on Wednesday announced its Memorandum of Understanding (MoU) on “Supervisory Cooperation and Exchange of Supervisory Information” with the Central…

 
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